Highlights from the Profile of International Activity in U.S. Residential Real Estate

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This annual report focuses on two groups of international buyers and sellers of residential real estate:

Non-resident foreigners: Non-U.S. citizens with permanent residences outside the United States. These clients typically purchase property for investment, vacation,or visits of less than six months to the United States on non-immigrant visas.

Resident foreigners: Non-U.S. citizens who are recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders who reside for more than six months in the United States for professional,educational, or other reasons.

Residential Properties Purchased by Foreign Buyers

The average price of properties purchased by the mix of foreign buyers was $454,400, a decrease from $536,900 during the previous period.

All dollar volume of purchases from the top five countries declined compared to the levels in the previous 12-month period. The major foreign buyers were China, Canada, the United Kingdom, India, and Mexico.

Residential Properties Sold by Foreigners

48% of international clients who sold their U.S. residential property originated from Canada, China, Mexico, India, and the United Kingdom.

61% of the properties sold by international clients were in Florida, California, Texas, Arizona, and New York.

U.S. Clients Searching for Properties Abroad

7% of REALTOR® respondents had clients who were interested in purchasing property abroad. Mexico, Canada, Costa Rica, France, China, and the United Kingdom were the top countries of interest.

Most clients seeking property abroad were interested in a residential property and intended to use the property for vacation and/or residential rental.

REALTOR® Interaction with International Clients

23% of REALTOR® respondents reported working with international clients, a decrease from 29% in the previous 12-month period.

33% of REALTOR® respondents reported an increase in the percentage of international client transactions to their business from one year ago, while 43% reported an increase from five years ago. Most respondents report no change in the share of their business that is international.

62% reported that personal contacts, previous clients, and business contacts were the major sources of clients/referrals.

REALTORS® also help international clients lease U.S. properties. Among all respondents, 11% reported they helped a client lease a residential property.

Total sales volume of U.S. residential real estate to foreign buyers from April 2017 – March 2018 was $121 billion.

July 26, 2018

Educate Yourself

NAR offers a number of courses on the business and cultural aspects of working in the world of global real estate, as well as the CIPS designation. The CIPS designation can be earned by U.S. REALTORS®, non-U.S. real estate professionals, and Association Executives.